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Ask the Experts

Ask The Experts

Q:
I'm in debt after divorce and considering filing bankruptcy. Do you have any suggestions?

I'm in the middle of a divorce and I can't seem to get out of the pile of debt that was accumulated in our marriage. It seems I was "awarded" the bulk of the credit card debt, which is around $40k. I pay about $1k in child support. I currently make $85k plus bonuses. But, I can't seem to make it to the next paycheck without checks bouncing. I'm 34 yrs. old and I'm considering filing Chapter 13. Do you have any suggestions? Signed - At Wit's End

Dear At Wit’s End,

Unfortunately, this is a rather common problem. In fact, divorce is one of the top reasons consumers seek assistance from MMI. Like those before you, I recommend that you meet with a trained credit counselor. During your counseling session, your counselor will review your overall financial situation, discuss possible solutions and make recommendations for you to consider.

Good luck,

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